eResearch | With today’s event of the Russian military invasion of Ukraine, here is a list of some Canadian-listed mining companies that might be affected as they have projects in Russia or Ukraine:
Kinross Gold Corporation (TSX:K)
- kinross.com
- Headquartered in Toronto, Canada, Kinross engages in the acquisition, exploration, and development of gold properties principally in the United States, the Russian Federation, Brazil, Ghana, and Mauritania.
- Operating in Russia for more than 25 years, it currently operates the underground Kupol mine in the Chukotka region and the Udinsk project is currently in the Feasibility Study stage.
- Kinross booked revenue of $3.73 billion in 2021 and is currently trading at $6.92 with a market cap of $8.60 billion.
Silver Bear Resources Plc (TSX:SBR)
- silverbearresources.com
- Headquartered in London, England, Silver Bear engages in the acquisition, exploration, evaluation, and development of precious metal properties in Russia.
- Its principal asset is the Mangazeisky silver project located to the north of Yakutsk in the Republic of Sakha with total Measured & Indicated Resource of 233.47 Kt at 1,196 g/t silver, 1.79% lead and 1.71% zinc.
- Silver Bear is currently trading at $0.08 with a market cap of $50.8 million.
Black Iron Inc. (TSX:BKI)
- blackiron.com
- Headquartered in Toronto, Canada, Black Iron operates as an iron ore exploration and development company.
- It holds a 100% interest in the Shymanivske Iron Ore Project located in Krivyi Rih, Ukraine with a total Measured & Indicated resource of 645.8 Mt at 31.6% Fetot and 18.8% Femag and an Inferred resource of 188.3 Mt at 30.1% Fetot and 18.4% Femag.
- The Shymanivske project has a 2017 PEA with a NPV10% of US$1.9 billion and a two-phase build of 4 Mtpa to 8 Mtpa.
- Black Iron is currently trading at $0.12 with a market cap of $34.9 million.
Orsu Metals Corporation (TSXV:OSU)
- orsumetals.com
- Headquartered in British Virgin Islands, Orsu Metals explores for and develops mineral properties in Russia.
- Its main project is the 90% interest in the Sergeevskoe Gold Project that is located in the Mogocha District of Zabaikalskiy Krai, Russia.
- The Sergeevskoe project hosts an Inferred Resource of 30.42 Mt at 1.45 g/t Au for 1.4 million gold ounces.
- Orsu Metals is currently trading at $0.23 with a market cap of $9.9 million.
Azarga Metals Corp. (TSXV:AZR)
- azargametals.com
- Headquartered in Vancouver, Canada, Azarga Metals engages in the exploration and development of mineral properties in Russia.
- It owns a 100% interest in the Unkur copper-silver project located in eastern Russia.
- A PEA was completed on the open pit project in 2018 with a NPV of US$203.6 million, based on annual production of 13,217 tonnes of copper and 3.70 million ounces of silver, over an 8-year mine life.
- Azarga Metals is currently trading at $0.04 with a market cap of $5.2 million.
Notes: All numbers in CAD unless otherwise stated. The author of this report, and employees, consultants, and family of eResearch may own stock positions in companies mentioned in this article and may have been paid by a company mentioned in the article or research report. eResearch offers no representations or warranties that any of the information contained in this article is accurate or complete. Articles on eresearch.com are provided for general informational purposes only and do not constitute financial, investment, tax, legal, or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this information should consult with a financial advisor. The article may contain “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are based on the opinions and assumptions of the Company’s management as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein. Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Please read eResearch’s full disclaimer.
